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Poly Tower Ventures Berhad (“PTV” or the “Company”) · Proposed Bonus Issue; · Proposed Rights Issue; · Proposed Transfer to the Main Board; · Proposed ESOS; · Proposed Increase in Authorised Share Capital; and · Proposed Amendments. (Collectively referred to as the “Proposals”)

POLY TOWER VENTURES BERHAD

Type

Announcement
SubjectPoly Tower Ventures Berhad (“PTV” or the “Company”)
· Proposed Bonus Issue;
· Proposed Rights Issue;
· Proposed Transfer to the Main Board;
· Proposed ESOS;
· Proposed Increase in Authorised Share Capital; and
· Proposed Amendments.

(Collectively referred to as the “Proposals”)

Contents :

    We refer to our earlier announcement dated 2 February 2005 in respect of the Proposals. RHB Sakura Merchant Bankers Berhad (“RHB Sakura”), on behalf of the Board of Directors of PTV (“Board”), is pleased to announce that the submission in respect of the Proposed Rights Issue as announced on 2 February 2005 has been made to the Securities Commission (“SC”) on 6 April 2005. The submission in respect of the Proposed Bonus Issue and Proposed ESOS as announced on 2 February 2005 will be made to Bursa Malaysia Securities Berhad (formerly known as Malaysia Securities Exchange Berhad) (“Bursa Securities”) in due course and shall be within the timeframe of three (3) months as announced previously.

    Further, the Company wishes to announce that the submission in relation to the Proposed Transfer to the Main Board shall be made to the SC and any other relevant authorities within six (6) months from the completion date of the Proposed Bonus Issue and Proposed Rights Issue, whichever is the later.

    In addition, as stated in the earlier announcement dated 2 February 2005, the Proposed ESOS involved the granting of options to the eligible employees including the Executive and Non-Executive Directors of the PTV Group. In this respect, the Board has resolved that the Non-Executive Directors of the PTV Group shall not be eligible to participate in the Proposed ESOS. Consequently, the Proposed Amendments shall no longer include the proposed amendment to the Articles of Association of PTV to allow the Non-Executive Directors to participate in the Proposed ESOS.

    This announcement is dated 6 April 2005.


Announcement Info

Company NamePOLY TOWER VENTURES BERHAD  
Stock Name POLYTWR    
Date Announced6 Apr 2005  
CategoryGeneral Announcement
Reference NoMM-050406-58482

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